Marks & Spencer introduces contactless payment processing

According to reports, around one in seven card payments of under GBP20 are now made through contactless terminals at Marks & Spencer. Figures show that the retail giant is processing more than 230,000 tap and pay transactions every week. The new scheme which was trialled at 25 stores across London proved a success, sparking it to be placed in all 644 stores nationwide. A spokesperson added, “Contactless payment is helping revolutionise the customer experience, contactless reduce queue times even further.”

These latest statistics reflect similar figures throughout the whole of Britain which show there are now 26.4 million contactless cards in use and over 200,000 contactless payment points throughout the country. The figures are set to increase even more so in the coming months as more stores and consumers embrace cashless payments.

A spokesperson from SmartDebit, a UK payment processor, explained, “Contactless payment is perfect for stores that experience a lunch time rush with high volumes of people resulting in long queues. Contactless technology is a great way to make payments faster and is convenient for both the customer and merchant. The move highlights the continued trend towards a cashless society in Britain, as more and more people leave their homes without any cash in their wallet”.